Office for National Statistics in London

As the world counts down to the opening of the Olympic Games in London on Friday, Londoners—and others in Britain—are dealing with an economy that in Q2 of this year slowed considerably more than expected.

Manufacturing in the U.K. surprised economists by falling 1% in February, when they had expected it to increase by a small margin. To add to the glum news, January’s numbers were adjusted downward as well.

Retail sales in the U.K. sounded one more note in the sad economic song of Europe on Thursday, as consumers tightened their belts against an inflation rate that was more than twice what the Bank of England had set as its target.